Market analyst CB Insights included Pakistani fintech startup NayaPay in its seventh annual report Fintech 100 Listaccording to a press release published Thursday.
The list includes early and mid-stage startups that are driving innovation in the fintech space, the release said, adding that the CB Insights research team selected the companies based on metrics such as transaction activity, industry partnerships, investor strength and employee headcount, among others.
About 52 companies on the list are from outside the United States, the statement added, including 17 companies from “11 emerging and developing economies.”
“The 2024 Fintech 100 winners are high-momentum companies shaping the future of financial services,” said Laura Kennedy, principal analyst at CB Insights.
Kennedy added: “Unsurprisingly, this year’s cohort is deploying AI in a wide variety of solutions. But their reach is also diverse across emerging and developing economies and focuses on everything from fraud prevention to financial inclusion.
NayaPay CEO Danish Lakhani was quoted as saying, “We are deeply honored to be recognized by CB Insights as one of the most promising fintech startups of 2024.
“This recognition strengthens our resolve to empower millions of unbanked and underserved Pakistani consumers and businesses to manage their finances with ease, security and confidence,” he added. “We will continue to innovate and adapt our offerings to meet the unique needs of Pakistan’s growing digital economy. »
NayaPay has already been included in the Forbes Asia 100 List to Watch and was awarded the best Fintech in the Banking Sector Prices in Pakistanthe press release adding that the company is “revolutionizing the way individuals and businesses in Pakistan manage their finances by providing intuitive solutions for everyday transactions and beyond.”